“`html “`

Instructions for Using the Calculator

To use the 401k vs IRA calculator, enter your current age, annual income, and expected retirement age. Choose your expected annual return rate and input your current 401k and IRA balances. The calculator will help you compare the benefits of contributing to a 401k or IRA.

401k vs IRA Calculator

Deciding between a 401k and an IRA is an important step in planning for retirement. Both have their advantages, but which one is right for you can depend on your individual financial situation. Use our calculator to help determine the best option for your retirement savings.

401k or Roth IRA Calculator

A Roth IRA offers tax-free growth, while a traditional 401k provides tax-deferred savings. Our calculator allows you to compare how your contributions will grow in a 401k versus a Roth IRA, helping you make an informed decision about where to invest your money.

Roth IRA vs 401k Calculator

When choosing between a Roth IRA and a 401k, consider the tax implications and withdrawal rules of each. Our calculator provides a side-by-side comparison to help you see the potential growth of your retirement savings in both accounts.

FAQs

What is the difference between a 401k and an IRA?

A 401k is an employer-sponsored retirement plan, while an IRA is an individual retirement account that you open on your own. Contributions to a 401k are often pre-tax, whereas IRA contributions can be pre-tax or post-tax, depending on the type.

Can I have both a 401k and a Roth IRA?

Yes, you can have both a 401k and a Roth IRA. Contributing to both can provide you with tax diversification and flexibility in retirement.

Which is better: a 401k or a Roth IRA?

The better option depends on your individual circumstances, such as your current tax bracket, expected retirement tax bracket, and your preference for tax-free withdrawals or tax-deferred growth.